SWIFT is the Society for Worldwide Interbank Financial Telecommunication, a member-owned cooperative through which the financial world conducts its business operations. SWIFT is solely a carrier of messages. SWIFT transports messages between two financial institutions. This activity involves the secure exchange of proprietary data while ensuring its confidentiality and integrity.
The AML application gives front end for online as well as file-based SWIFT messages. You can put violated SWIFT messages On Hold, Block them, or Authorise them.
When you want to take action on a violated message at a later point of time, put that message on hold.
When you want to reject a message, block that message. The blocked message moves to the respective reject messages folder/queue.
If you find the violated file clean, authorise that message. The authorised message moves to the respective Clean messages folder/queue.
On the Server Configuration Master screen, if the value of the SWIFT_MODE parameter is 1 then file-based SWIFT gets activated and if the value of the SWIFT_MODE parameter is 2 then online SWIFT gets activated.
In file-based SWIFT, there is a defined folder structure. IN messages are the messages sent by a bank, and OUT messages are the messages received by a bank. You can use the following links to reach the corresponding folders:
SWIFT In messages: IN messages ready for scanning
SWIFT Out messages: OUT messages ready for scanning
SWIFT In clean messages: In messages cleared after scanning
SWIFT Out clean messages: Out messages cleared after scanning
SWIFT In reject messages: In messages rejected after scanning
SWIFT Out reject messages: Out messages rejected after scanning
In online SWIFT, the SWIFT component is installed with the SAA Interface on the remote server, which communicates with the AML application. Any SWIFT message that is sent by a bank is posted in Swift In Messages in the AML application till the message is scanned. Any SWIFT message that is received by a bank is posted in Swift Out Messages in the AML application till the message is scanned. There are three patches running at the defined time interval at the AML application end.
First patch checks whether any new In or Out message has arrived. Second patch scans the In or Out messages. Cleaned In or Out messages are moved to the Release queue and you can take action for violated In or Out messages. At the SAA Interface, violated In or Out messages are moved to the Hold queue. Once you block or authorise violated In or Out messages, the third patch sends the acknowledgement to SAA Interface, moves the blocked In or Out messages to the Reject queue, and moves the authorised In or Out messages to the Release queue.
The system supports 13 types of messages. These are 103, 203, 202, 205, 700, 701, 705, 707, 710, 740, 742, 747, and 910. You can view other types of In or Out messages, if configured, by using the View Un-Supported Msg link. At the SAA Interface, they are moved to the Release queue.
To access the SWIFT module
Log on to the system.
On the menu bar, click Swift.
The Swift Scan Statistics screen
appears.
The Swift module provides the following options:
Depending upon your role and server configuration, the administrator allows you to access above-mentioned options.